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Eric Savitz


From Barron’s:
Alan Meckler, the CEO of JupiterMedia, which owns the stock photogrpahy house JupiterImages as well as Internet.com and other web sites, consistently has one of the more interesting executive-written blogs. On Friday he wrote that Getty Images (GYI), his rival in the stock photo business, is cutting its workforce by 10%.

An excerpt:

Our friends at Getty Images are terminating (as we hear it) 10% of their workforce worldwide… We have been inundated with resumes from a solid pool of Gettyites that have been or are fearful of being made redundant. This is particularly true in Germany where we are growing rapidly and have a need for skilled image professionals. We welcome anyone from Getty who is looking for a home from a growing image company. Come one and come all.

The Stock Asylum, a stock photography site which picked up on Meckler’s post, says that Getty issued a statement which said that Getty CEO Jonathan Klein on Wednesday “outlined to employees a strategy for growth going forward. There is a small reduction in headcount in some areas, and additional new hires and resources in others.” According to the site, Getty’s statement concluded that Klein will discuss the changes during his quarterly conference call with industry analysts on Tuesday.

A spokesperson at Getty just told me the same thing; the company sent employees a memo on Wednesday about the company’s strategy, which mentions that there will some job cuts; details will be provided to investors on Tuesday. Getty would not comment specifically on the 10% number.

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